Vale nudges sales guidance lower after new dam halt
Brazilian iron ore miner Vale said on Monday it has temporarily shut down its Itabiruçu tailing dam and lowered its full year iron ore and pellet sales guidance as a result.
Vale said it had shut down the dam so it could assess the structure’s “geotechnical characteristics”, noting the dam was issued a stability certificate in late September.
The company said it was now expecting full year iron ore and pellet sales between the lower end and the midpoint of its previously announced range of 307 to 332 million tonnes. Before the dam shutdown, Vale had said it expected sales to be at the midpoint of that range.
Vale said the assessment of the dam would be conducted within 30 days, and that the impact on production would be limited to 1.2 million tonnes.
The company’s statement did not detail when it expected the dam to reopen and a spokeswoman could not immediately be reached for comment.
Vale said the “Level 1” emergency protocol for the shutdown did not entail the evacuation of any nearby homes.
The suspension follows Vale’s halt in late July of a separate effort to expand the dam to boost its capacity. The dam already holds at least 10 times the amount of waste spilled in the deadly collapse of Vale’s Brumadinho mine in January.
Vale said a wider plan to eventually resume production of 50 million tonnes of production capacity lost after the Brumadinho disaster would still go ahead as planned.
source: Mining.com
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
